Oil prices to get back to normal if sanctions are lifted from Iran - deputy oil minister

“With the abolition of sanctions against Iran the trend of global oil prices will become rational,” Namdar Zanganeh said

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TEHRAN, January 24. /TASS/. World oil prices will get back to normal if economic sanctions are lifted from Iran, the country’s deputy oil minister Namdar Zanganeh said on Friday.

“With the abolition of sanctions against Iran the trend of global oil prices will become rational,” the Iranian news agency IRAN quotes him as saying. In his opinion the elimination of economic bans regarding Iran may support world oil prices.

Zanganeh also said that the falling oil prices would cause no effect on the construction of LNG plants at Iran’s largest oil and gas deposit South Pars.

“The plummeting world prices of oil do not affect the economic feasibility of building LNG plants,” Zanganeh said. “Construction will proceed in keeping with the original schedule.”.